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NEW YORK (
TheStreet) -- "King Pharmaceuticals" is a hot search topic today following the news that
Pfizer(PFE - Get Report) has struck a $3.6 billion deal to acquire pain-reliever specialist
King Pharmaceuticals(KG).

The agreement helped boost shares of
Pain Therapeutics(PTIE), an early-stage painkiller developer. Pain has teamed with King on the development of Pain's lead drug candidate Remoxy, which is currently in clinical trials.

The companies have a licensing agreement for Remoxy, a "strong painkiller" which, according to Pain's press reports, has a "unique formulation designed to reduce potential risks of unintended use." Pfizer is likely interested in King's research on and involvement with "abuse-resistant" pain drugs.

"Offshore oil rigs" is a heavily search phrase today after the news that the U.S. government lifted the moratorium on deepwater drilling today.

The Obama administration put the restrictions in place following the disastrous
BP(BP - Get Report) oil spill in the Gulf of Mexico.

Drilling companies must file for new permits before they can start drilling again. In order to be cleared for operations, companies must meet a set of safety requirements. The CEO of each company must comply with new regulations in efforts to reduce the chance of future accidents.